Impacts of Exogenous Shocks Using GTAP

This paper aims at investigating the sectoral impacts from exogenous shocks using CGE model through GTAP model which is implemented by GEMPACK. Three shocks include population growth in NAFTA region, Industrial Growth in Thailand, and Income Growth (measured by GDP) in NAFTA region. The result was very precise and benefit to policymakers corresponding to the objective of CGE model. According to the results, relatively, income growth in NAFTA region yields a highest welfare effect among all shocks which confirms the standard welfare functions.